Convenience cited as top reason for mobile banking: RBC poll

TORONTO, Dec. 21 /CNW/ - Taking banking convenience to the next level, RBC is pleased to announce it has become the first Canadian bank to launch fully integrated mobile banking applications for select smartphones. According to a recent RBC poll, most Canadians (79 per cent) own a mobile device and 44 per cent are interested in mobile banking.

Topping the list of what mobile device users would like to be able to do, the RBC poll found that Canadians want the ability to check account balances (34 per cent), pay bills (32 per cent), view transaction history (28 per cent) and transfer funds between accounts (26 per cent).

RBC's new integrated mobile banking applications, which are now available for download, enable personal and business clients to do all that and more - on-the-go, anywhere, anytime.

"RBC has offered mobile banking services to our clients since 2008 and our new integrated apps leverage the capability of the device to create a simple and easy to use experience," said James McGuire, VP, Digital Strategy & Experience, RBC. "In an era of long work days and short weekends, getting more done can be challenging. We are taking convenience and control to a new level by providing customers with the ability to stay connected with their finances on their schedule."

Canadian mobile device users who have already tried mobile banking cite convenience (69 per cent) as the main reason for using mobile banking. However, the poll found that concern over security (24 per cent) is one of the main reasons cited for hesitation to try mobile banking.

"We understand how important information security and privacy are and we are providing customers with the same safety and security guarantee that's offered with our online banking services," said McGuire. "If an unauthorized transaction is conducted through an RBC mobile banking service, clients will be reimbursed for any resulting losses to those accounts."

The RBC mobile app allows clients to access a full range of services, including the ability to:

  • View account balances for all personal and business accounts.
  • View account details for accounts such as credit lines, credit cards, mortgages and loans.
  • Pay bills (non-recurring and current) for all existing online banking payees.
  • View transaction history.
  • Transfer funds between all RBC accounts.
  • Send Interac® Email Money Transfers.
  • Send third-party payments.
  • Locate RBC branches and ATMs.

To download the app for free, clients can visit www.rbc.com/mobileapps. Downloading the app is very simple: Turn on your mobile device, launch the browser and then go to www.rbc.com/mobileapp and select the download for your device. Once you install the app, use your RBC Royal Bank Online Banking client card or username and password and start banking right away!

The survey was conducted by Ipsos Reid on behalf of RBC Royal Bank in October 2010. The results are based on a sample where quota sampling and weighting are employed to balance demographics and ensure that the sample's composition reflects that of the actual Canadian population according to Census data. Quota samples with weighting from the Ipsos online panel provide results that are intended to approximate a probability sample. An unweighted probability sample of 1,017, with 100 per cent response rate, would have an estimated margin of error of ±3 per cent, 19 times out of 20.


For further information:

Jill Quinn, RBC, 416-313-8121
Alen Sadeh, Media Profile, 416-342-1834

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